对外PPP项目融资渠道比较研究1.PDFVIP

亓霞，王守清，李湛湛．对外 PPP 项目融资渠道比较研究．项目管理技术，6：26‐31，2009  对外 PPP 项目融资渠道比较研究1 亓霞 1, 2 王守清 1 李湛湛 3 (1. 100084 2. 250101 3. 100031) 清华大学建设管理系，北京 ； 山东建筑大学管理学院，济南 ； 中国进出口银行，北京 摘要：在国际工程承包中，PPP 模式得到了越来越多的应用，但我国对外工程承包企业融资 渠道单一、面临资金瓶颈，急需了解融资渠道、增强融资能力。本文在对目前国际上广泛采 用并适用于 PPP 项目的各种融资渠道进行详细介绍的基础上，从贷款对象/条件、融资成本、 资金使用自由度和项目控制权四个方面对这些融资渠道进行了深入的分析和比较，并对我国 企业实施对外 PPP 项目时的融资方案选择提出了有关建议。 关键词：公私合作（PPP ） 融资渠道 国际工程 Comparative Study on Sources of Finance for Overseas PPP Projects 1, 2 1 3 Qi Xia , Wang ShouQing , Li Zhanzhan (1. Department of Construction Management, Tsinghua University, Beijing 100084, China; 2. School of Management, Shandong Jianzhu University, Jinan 250014, China; 3. The Export-Import Bank of China, Beijing 100031, China) Abstract: The Public-Private Partnership (PPP) has been applied more and more in the international construction projects. However, the Chinese contractors are facing difficulties of limited sources of finance and low skill of financing when bidding for overseas PPP projects. This paper firstly introduces the alternative sources of finance for PPP projects in the global market, followed by in depth analysis and comparison from four aspects, i.e. debtors and loan preconditions, cost of finance, capital mobility and project control. Finally, some advices are proposed to Chinese contractors in choosing the sources of finance for their overseas PPP projects. Key words: public-private partnership (PPP); Sources of finance; International construction 1. 引言 国际工程承包市场近年来出现了一些新特点，包括市场规模扩大，开放程度提高；工程 规模变大，国际工程承包市场发